What are the factors that affect the Philippine economy?
The factors that affect the Philippine economy are as follows: 1) Government Policies and Regulations - The government plays a significant role in shaping the economic landscape of a country. It sets policies such as taxation, trade, and investment regulations that influence the economic activities of businesses and individuals. Government spending on infrastructure development, which can stimulate economic growth. 2) Natural Resources - The Philippines is rich in natural resources such as minerals, oil, gas, and agriculture, which can have an impact on the country's economic growth. 3) Demographics - The population size, age distribution, and labor force participation rate can influence the demand for goods and services and thus affect economic activity. 4) External Factors - The Philippines is highly dependent on external factors such as trade, investment, and remittances from overseas Filipino workers, which can impact the country's economic growth. These factors